BitConnect Ponzi promoter Michael Noble has been ordered to pay $1.07 million in BitConnect penalties.
BitConnect was an MLM crypto Ponzi that defrauded customers out of round two billion {dollars}.
After the rip-off collapsed in January 2018, the SEC filed go well with in opposition to Noble and 4 different BitConnect promoters in Could 2021.
Noble (proper) settled the SEC’s fraud allegations in July 2021, nonetheless the monetary element of the settlement remained below dispute.
A 2024 submitting revealed the SEC needed Noble to repay $731,281, representing the quantity Noble misappropriated by means of BitConnect referral commissions.
Proceedings in opposition to Noble culminated in a July fifteenth, 2026 order, requiring Noble to pay the disputed $731,281 quantity in full. Prejudgement curiosity within the quantity of $293,703 and a $50,000 civil penalty was additionally ordered.
To the extent Noble disputed the quantities, the court docket dismissed his arguments.
Noble is the fourth BitConnect promoter defendant to have settled with the SEC. Per the 2021 batch of BitConnect promoter settlements;
- Joshua Jeppesen paid $2.66 million in disgorgement, pay 190 bitcoin in disgorgement, $370,983 in prejudgment curiosity and a $150,000 civil penalty
- Ryan Maasen paid $477,408 in disgorgement, $38,550 in prejudgment curiosity and a $10,000 civil penalty
- Laura Mascola paid $506,011 in disgorgement and $70,347 in prejudgment curiosity
The SEC reached a settlement with defendant Trevon Brown, aka Trevon James. James was accused of misappropriating “at the least $480,000” by means of BitConnect.
Particulars of Brown’s settlement will likely be made public following pending Fee approval.
Defendant Craig Grant fled the US for Jamaica after BitConnect collapsed. Grant is accused of misappropriating “over $1.3 million” by means of BitConnect.
A default judgment obtained by the SEC in 2024 noticed Grant responsible for $3.5 million. To the very best of my data Grant has not paid a cent in direction of the granted SEC judgment.
After fleeing to Jamaica, Grant returned to a family-owned property in Spring Backyard, Trelawny Parish.
Grant has been renovating the property with stolen BitConnect investor funds over the previous eight years. In early 2025, Grant started renting out a room on the property on AirBNB.
Grant continues to doc his post-BitConnect life in rural Jamaica on YouTube.
